UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Worthington Industries
In a report published Friday, Jefferies & Company reiterated its Hold rating on Worthington Industries (NYSE: WOR), but lowered its price target from $26.00 to $24.00.
Jefferies noted, “Post 1Q13, our view is unchanged; we continue to see WOR well positioned within our coverage, though advise investors to seek a more attractive entry point following the stock's recent meaningful outperformance against peers. We've trimmed estimates/TP to factor in lower volume growth and reduced JV income in light of a weaker economic backdrop. We remain encouraged about WOR's ongoing internal transformation and growth efforts.”
Worthington Industries closed on Thursday at $22.19.
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